Posted on 27 Oct 2022
Steelmaker, QazSpecSteel LLC, will invest US$587 million in a new plant that will help reduce Kazakhstan's dependence on overseas billets and rebar, according to an announcement by the Kazakhstan’s government.
The new plant is estimated to have an annual capacity of 800,000 tons of steel billets and will provide 1,500 jobs if it is at total capacity. However, a detailed completion schedule has yet to be announced.
Once completed, the plant will provide Kazakh producers with blooms and billets to manufacture rails, railway wheels, and construction materials, eliminating US$990 million in annual imports of semi-finished and finished products.
Source:Yieh
